Last updated January 16, 2014
There is concern across the five boroughs, especially in Manhattan and Brooklyn, that living in New York City is becoming increasingly difficult to afford. This is most evident in rent prices, but also in the general cost of living. There is evidence that income inequality has been growing rapidly in recent years and that a higher and higher percentage of New York City residents are living in poverty. The issue of affordability is directly related, of course, to issues of jobs, wages, real estate, transportation, education and more. See our page on Housing and Urban Development for more on those topics and their relationship.
Mayor de Blasio articulated affordability concerns throughout his campaign, stating that living in New York has become a “tale of two cities,” with the upper class expanding its wealth, the middle class dwindling and underrepresented, and poverty growing. To combat these increasingly disparate and polarizing conditions, and make New York City more affordable, Mayor de Blasio has proposed a slate of reforms to housing and education, wage increases, and increased job access.
Many New Yorkers want to know what can be done to make their city more affordable; here are the key questions being asked in general in New York City and of both current and prospective city government officials:
- What can be done to make New York City more affordable for working and middle class individuals and families?
- How can we ensure the protection of existing and creation of new units of affordable housing around the city?
- What can be done to increase wages while keeping down costs of living?
Resources For More Information:
- New York City Affordable Housing Resource Center
- New York City Housing Authority
- New York State Association for Affordable Housing
- Association for Neighborhood and Housing Development, Inc.
- Community Service Society: Affordable Housing
- New York City Rent Guidelines Board: 2012 Income and Affordability Study (pdf)
- Article: High Costs of Living in NYC (WSJ Metropolis blog)
- Article: New York City Fairly Affordable for Middle Class (WSJ Metropolis blog)
- Furman Center for Real Estate and Urban Policy at NYU: The Moelis Institute for Affordable Housing Policy
- Furman Center for Real Estate and Urban Policy at NYU: Affordable Housing reports
- Furman Center for Real Estate and Urban Policy at NYU: State of the City’s Housing and Neighborhoods reports